Confluence Investment Management LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 1, 2026), Confluence Investment Management LLC reported 283 stock positions worth $6.4 billion. Its top holding was iShares 0-3 Month Treasury B (SGOV) at 2.7% of the portfolio, followed by Analog Devices (ADI, 2.7%) and Lockheed Martin (LMT, 2.5%). Compared with Q4 2025, it opened 18 new positions, sold out of 31, added to 122 and reduced 137. The biggest buy was Dow (DOW, shares +18%) and the biggest sale iShares Russell 1000 Value E (IWD, shares −97%).

Most Recent 13F
Q2 2026
Location
ST. LOUIS, MO
CIK
0001442056
Portfolio Value
$6.4B (Q1 2026)
SEC Filing
0001442056-26-000004 ↗ filed Apr 1, 2026

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $7.4B Q1 2024 Q2 2024: $6.9B Q2 2024 Q3 2024: $7.5B Q3 2024 Q4 2024: $7.2B Q4 2024 Q1 2025: $6.9B Q1 2025 Q2 2025: $7.1B Q2 2025 Q3 2025: $7.0B Q3 2025 Q4 2025: $6.7B Q4 2025 Q1 2026: $6.4B $6.4B Q1 2026 Q2 2026: $6.4B Q2 2026

Holdings 283 stocks · $6.4B

SGOV iShares 0-3 Month Treasury B 2.74% 1,753,514 $176.5M Reduce -16.1%
ADI Analog Devices Inc. 2.67% 540,640 $172.0M Reduce -7.7%
LMT Lockheed Martin Corp. 2.53% 269,640 $163.0M Reduce -5.5%
CVX Chevron Corp. 2.48% 772,243 $159.8M Reduce -3.6%
SNA Snap-on Inc. 2.46% 435,896 $158.3M Reduce -7.1%
CB Chubb Ltd. 2.44% 482,043 $157.1M Reduce -5.7%
HSY The Hershey Co. 2.23% 690,349 $143.5M Reduce -1.1%
WEC WEC Energy Group Inc. 2.22% 1,237,016 $143.2M Reduce -6.8%
LIN Linde PLC 2.18% 283,072 $140.3M Reduce -4.8%
ETR Entergy Corp. 2.14% 1,229,287 $138.1M Reduce -4.5%
FAST Fastenal Co. 2.14% 2,966,722 $137.7M Reduce -4.1%
SO The Southern Co. 2.13% 1,421,871 $137.2M Reduce -4.3%
MDLZ Mondelez International Inc. Class A 1.89% 2,112,856 $121.8M Add +21.3%
GILD Gilead Sciences Inc. 1.86% 861,023 $120.0M Reduce -5.4%
CSCO Cisco Systems Inc. 1.86% 1,540,946 $119.6M Reduce -4.8%
KMI Kinder Morgan Inc. 1.82% 3,489,006 $117.0M Reduce -4.1%
PGR Progressive Corp. 1.79% 580,259 $115.0M Reduce -2.9%
HON Honeywell International Inc. 1.75% 499,862 $113.0M Reduce -3.4%
AWK American Water Works Co. Inc. 1.71% 809,958 $110.2M Add +2.1%
CL Colgate-Palmolive Co. 1.65% 1,250,090 $106.5M Reduce -2.8%
HD Home Depot Inc. 1.63% 319,923 $105.2M Reduce -3.6%
DEO Diageo PLC-Sponsored ADR 1.56% 1,353,434 $100.8M Add +23.2%
CLX Clorox Company 1.50% 932,575 $96.6M Add +20.1%
NTRS Northern Trust Corp. 1.47% 680,260 $94.9M Reduce -38.3%
USB US Bancorp 1.44% 1,784,403 $92.8M Reduce -3.4%
FNF Fidelity National Financial 1.41% 1,957,007 $90.8M Reduce -4.1%
PAYX Paychex Inc. 1.39% 969,809 $89.3M Reduce -1.8%
BR Broadridge Financial Solutio 1.35% 534,393 $86.8M Reduce -4.0%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.35% 963,167 $86.8M Add +2.1%
SPMB SS SPDR P Mort Back Bond ETF 1.34% 3,853,493 $86.3M Reduce -9.5%
NDSN Nordson Corp. 1.27% 308,267 $82.0M Reduce -6.2%
DOW Dow Inc. filed as DOW HLDGS INC 1.21% 1,870,348 $77.9M Add +17.7%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.15% 1,113,400 $73.8M Reduce -5.8%
MA Mastercard Inc. Class A 1.14% 146,534 $73.2M Reduce -5.7%
SPDW Ste STR SPDR PT DW Eu ETF 1.13% 1,592,493 $72.7M Reduce -2.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.11% 446,526 $71.3M Reduce -22.7%
SYK Stryker Corp. 1.06% 208,059 $68.4M Reduce -5.1%
ACN Accenture PLC Class A 1.05% 340,812 $67.6M Add +2.6%
APD Air Products & Chemicals Inc. 0.98% 217,487 $63.2M Add +14.3%
ARCC Ares Capital Corp. 0.96% 3,435,289 $61.9M Reduce -3.0%
SPGI S&P Global Inc. 0.89% 134,280 $57.1M Reduce -4.2%
MSFT Microsoft Corp. 0.85% 148,611 $55.0M Reduce -4.0%
ITW Illinois Tool Works 0.84% 207,159 $53.9M Reduce -4.0%
SPYG SS SPDR P S&P 500 Growth ETF 0.80% 528,353 $51.7M Add +3.0%
KEYS Keysight Technologies Inc. 0.79% 179,504 $50.7M Reduce -46.3%
MAS Masco Corp. 0.78% 828,604 $50.0M Reduce -4.0%
LOW Lowe's Cos Inc. 0.77% 210,064 $49.6M Reduce -6.1%
GOOG Alphabet Inc. Class C 0.77% 172,879 $49.6M Reduce -5.3%
GGG Graco Inc. 0.77% 585,714 $49.6M Reduce -6.0%
PAYC Paycom Software Inc. 0.77% 407,747 $49.6M Add +27.7%
SPYV SS SPDR P S&P 500 Value ETF 0.69% 790,404 $44.7M Add +30.9%
BRK.B Berkshire Hathaway Inc. Class B 0.69% 93,261 $44.7M Reduce -4.5%
TMO Thermo Fisher Scientific Inc. 0.69% 90,151 $44.3M Reduce -5.2%
NXPI NXP Semiconductors NV 0.67% 219,824 $43.3M Reduce -3.7%
ACGL Arch Capital Group Ltd. 0.54% 364,086 $34.9M Add +1.2%
MLM Martin Marietta Materials 0.52% 56,855 $33.5M Reduce -4.7%
BF.B Brown-Forman Corp. Class B 0.51% 1,237,621 $32.7M Add +3.6%
MBB iShares MBS ETF 0.49% 332,934 $31.6M Reduce -3.4%
GLDM SPDR Gold Minishares Trust 0.48% 332,974 $30.9M Reduce -12.6%
MORN Morningstar Inc. 0.47% 177,568 $30.0M Add +150.0%
CARR Carrier Global Corp. 0.45% 511,137 $28.8M Add +142.6%
SBUX Starbucks Corp. 0.44% 315,131 $28.2M Reduce -2.3%
IBTO iShares Ibonds Dec 2033 Tres 0.41% 1,081,896 $26.4M Add +69.8%
BRO Brown & Brown Inc. 0.41% 404,645 $26.4M Reduce -2.1%
BKNG Booking Holdings Inc. 0.40% 6,143 $25.9M Reduce -3.6%
STZ Constellation Brands Inc. Class A 0.40% 171,647 $25.7M Add +57.9%
IBTL iShares Ibonds Dec 2031 Term 0.38% 1,202,814 $24.5M Add +156.1%
GD General Dynamics Corp. 0.38% 70,894 $24.3M Reduce -7.3%
EOG EOG Resources Inc. 0.37% 165,675 $24.0M Add +1.2%
ECL Ecolab Inc. 0.37% 89,454 $23.8M Reduce -9.0%
IBTP iShares Ibonds Dec 2034 ETF 0.37% 919,178 $23.6M Add +28.4%
APH Amphenol Corp. Class A 0.36% 185,611 $23.5M Reduce -6.9%
TTC Toro Co. 0.36% 250,943 $23.4M Add +4.0%
EXPD Expeditors Intl Wash Inc. 0.36% 160,703 $23.0M Reduce -6.4%
NJR New Jersey Resources Corp. 0.36% 416,958 $22.9M Reduce -5.0%
DCI Donaldson Co. Inc. 0.35% 265,723 $22.6M Reduce -8.8%
RMD Resmed Inc. 0.35% 99,845 $22.4M Reduce -6.2%
RLI Rli Corp. 0.34% 382,149 $21.8M Add +1612.2%
MCD McDonald's Corp. 0.34% 69,902 $21.7M Reduce -5.3%
SHW The Sherwin-Williams Co. 0.33% 66,450 $21.3M Reduce -5.5%
AOS Smith (a.o.) Corp. 0.33% 319,075 $21.0M Add +8.4%
TLH iShares 10-20 Year Treasury 0.32% 205,868 $20.7M Reduce -15.1%
IBTQ iShares Ibonds Dec 2035 TT 0.32% 807,886 $20.4M Reduce -3.2%
IBTM iShares Ibnds Dec 2032 TT 0.29% 804,094 $18.4M Add +102.5%
PG The Procter & Gamble Co. 0.28% 123,362 $17.8M Reduce -3.9%
MDT Medtronic PLC 0.28% 205,401 $17.8M Reduce -4.5%
CRL Charles River Laboratories 0.27% 100,534 $17.3M Reduce -4.8%
ZTS Zoetis Inc. 0.26% 141,863 $16.8M Add +13.9%
HYBB iShares BB Rated Corp. Bond 0.25% 350,424 $16.3M Reduce -19.2%
DLTR Dollar Tree Inc. 0.25% 146,113 $16.0M Reduce -38.1%
IEUR iShares Core MSCI Europe ETF 0.24% 217,396 $15.3M Reduce -1.2%
NKE Nike Inc. Class B 0.23% 282,354 $14.9M Add +6.1%
IEI iShares 3-7 Year Treasury Bo 0.23% 125,466 $14.9M Reduce -0.1%
BDX Becton Dickinson and Co. 0.23% 93,498 $14.7M Add +24.8%
VVV Valvoline Inc. 0.23% 431,559 $14.5M Add +6.8%
TREX Trex Company Inc. filed as TREX INC 0.22% 390,641 $14.2M New
BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN 0.22% 638,637 $14.0M Add +10.2%
VNT Vontier Corp. 0.21% 384,294 $13.6M Reduce -8.1%
AVDV Avantis Intl S/C Value ETF 0.19% 120,837 $12.1M Reduce -2.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.18% 123,156 $11.9M Reduce -1.9%
IGSB iShares 1-5Y Inv Grade Corp. 0.18% 225,126 $11.8M Add +81.9%
CPRT Copart Inc. 0.16% 313,965 $10.4M Add +10.6%
SDY SS SPDR S&P Dividend ETF 0.16% 68,710 $10.0M Reduce -0.9%
DFNM Dimensional National Muni BD 0.15% 205,362 $9.8M Reduce -2.0%
SHLD Global X Defense Tech ETF 0.14% 123,276 $8.7M Reduce -6.2%
PICK iShares MSCI Global Metals & 0.13% 143,972 $8.1M New
BSMY Invesco Bulletshares 2034 MB 0.12% 327,709 $7.9M Reduce -10.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.12% 11,922 $7.8M Reduce -24.2%
JBTM JBT Marel Corp. 0.11% 55,124 $7.0M Reduce -24.1%
IBTK iShares Ibonds Dec 2030 Trea 0.11% 353,634 $7.0M Reduce -3.1%
BSMV Invesco Bulletshares 2031 MB 0.10% 311,374 $6.5M Add +101.6%
BSSX Invesco Bulletshares 2033 MB 0.09% 237,863 $6.0M Reduce -19.0%
GDX Vaneck Gold Miners ETF 0.09% 63,691 $5.8M New
BSMZ Inves Bltshrs 2035 MB ETF 0.09% 223,117 $5.6M New
BSMW Invesco Bulletshares 2032 MB 0.08% 212,666 $5.3M Add +95.1%
MAIN Main Street Capital Corp. 0.07% 90,958 $4.8M Reduce -6.3%
PZA Invesco National Amt-Free Mu 0.07% 208,781 $4.8M Reduce -2.2%
MTN Vail Resorts Inc. 0.07% 37,203 $4.8M Reduce -10.0%
AEM Agnico Eagle Mines Ltd. 0.07% 23,296 $4.7M Add +3.1%
TRIP Tripadvisor Inc. 0.07% 410,791 $4.4M Reduce -13.5%
GBDC Golub Capital BDC Inc. 0.06% 326,878 $4.1M Reduce -5.5%
HTGC Hercules Capital Inc. 0.06% 273,343 $4.0M Reduce -5.7%
IBTJ iShares Ibonds Dec 2029 Term 0.06% 183,271 $4.0M Add +1.5%
CVCO Cavco Industries Inc. 0.06% 7,990 $3.9M Reduce -23.3%
IWD iShares Russell 1000 Value E 0.06% 18,099 $3.9M Reduce -96.8%
TSLX Sixth Street Specialty Lendi 0.06% 207,790 $3.8M Reduce -8.0%
BRK.A Berkshire Hathaway Inc. Class A 0.06% 5 $3.6M No change
BXSL Blackstone Secured Lending F 0.05% 144,047 $3.4M Reduce -8.2%
MUB iShares National Muni Bond E 0.05% 31,662 $3.4M Add +5.8%
CNMD Conmed Corp. 0.05% 93,530 $3.3M Add +2.6%
HYMB SS SPDR N Ice HY Muni ETF 0.05% 124,905 $3.1M Reduce -0.5%
MLN Vaneck Long Muni ETF 0.05% 169,953 $3.0M Add +8.2%
SHM SS SPDR N Ice St Muni ETF 0.05% 61,292 $2.9M Add +5.6%
TSM Taiwan Semiconductor-SP ADR 0.05% 8,597 $2.9M Reduce -0.4%
IIIV I3 Verticals Inc. Class A 0.04% 120,314 $2.7M Add +46.5%
BSMU Invesco Bulletshares 2030 MB 0.04% 123,052 $2.7M Reduce -1.5%
BBDC Barings BDC Inc. 0.04% 307,872 $2.5M Reduce -10.3%
IBMQ iShares Ibonds Dec 2028 Muni 0.04% 99,101 $2.5M Add +6.2%
OBDC Blue Owl Capital Corp. 0.04% 224,365 $2.5M Reduce -5.4%
BSMT Invesco Bulletshares 2029 MB 0.04% 104,378 $2.4M New
CNR Core Natural Resources Inc. 0.04% 22,176 $2.3M Add +5.7%
SDZNY Sandoz Group AG-ADR 0.03% 28,479 $2.2M Reduce -0.7%
IBMR iShares Ibonds Dec 2029 M BD 0.03% 86,709 $2.2M Add +6.5%
NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP 0.03% 277,571 $2.2M Reduce -5.8%
CSWC Capital Southwest Corp. 0.03% 95,339 $2.1M Add +13.8%
WDS Woodside Energy Group-ADR 0.03% 87,146 $2.1M New
VIST Vista Energy Sab DE CV 0.03% 26,827 $2.0M Add +224.3%
KN Knowles Corp. 0.03% 76,922 $2.0M Reduce -30.0%
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.03% 1,440 $1.9M Add +7.7%
MUFG Mitsubishi Ufj Finl-Spon ADR 0.03% 111,432 $1.9M Add +7.2%
AER Aercap Holdings NV 0.03% 13,613 $1.9M Add +6.8%
MOV Movado Group Inc. 0.03% 74,555 $1.8M Reduce -29.3%
XLC SS Comm Select Sector SPDR 0.03% 16,120 $1.8M New
GLNCY Glencore PLC -Unsp ADR 0.03% 117,159 $1.8M Add +1.1%
DBSDY DBS Group Holdings-Spon ADR 0.03% 9,783 $1.8M Add +7.9%
MITSY Mitsui & Co. Ltd.-Spons ADR 0.03% 2,253 $1.7M Add +0.3%
DSCSY Disco Corp.-Unsponsored ADR 0.03% 42,798 $1.7M Add +6.0%
LUNMF Lundin Mining Corp. 0.03% 68,086 $1.7M Reduce -1.5%
LFUS Littelfuse Inc. 0.03% 4,991 $1.7M Reduce -30.8%
CVE Cenovus Energy Inc. 0.03% 63,727 $1.7M New
NEM Newmont Corp. 0.03% 15,067 $1.6M Reduce -0.5%
GTES Gates Industrial Corp. UK Ltd. 0.03% 71,924 $1.6M Reduce -33.9%
SCCO Southern Copper Corp. 0.02% 9,322 $1.6M Reduce -0.9%
XOM Exxon Mobil Corp. 0.02% 9,331 $1.6M Add +5.0%
STC Stewart Information Services 0.02% 25,461 $1.6M Reduce -27.4%
AGI Alamos Gold Inc. Class A 0.02% 35,226 $1.6M Add +1.6%
BAESY Bae Systems PLC -Spon ADR 0.02% 13,305 $1.6M Add +4.0%
ING ING Groep N.V.-Sponsored ADR 0.02% 59,003 $1.5M Add +8.3%
SHEL Shell PLC-ADR 0.02% 16,435 $1.5M New
ZURVY Zurich Insurance Group-ADR 0.02% 42,950 $1.5M Add +9.4%
ANFGF Antofagasta PLC 0.02% 34,178 $1.5M Reduce -0.4%
SPB Spectrum Brands Holdings Inc. 0.02% 20,397 $1.5M Reduce -30.7%
FSK FS KKR Capital Corp. 0.02% 147,605 $1.5M Reduce -6.6%
GDXJ Vaneck Junior Gold Miners 0.02% 12,491 $1.5M New
HKXCY Hong Kong Exchanges-Unsp ADR 0.02% 29,563 $1.5M Add +41.4%
RGLD Royal Gold Inc. 0.02% 5,877 $1.5M Add +0.7%
HGTY Hagerty Inc. Class A 0.02% 140,841 $1.5M Reduce -28.5%
SAFRY Safran SA-Unspon ADR 0.02% 18,079 $1.5M Add +7.7%
CNQ Canadian Natural Resources 0.02% 30,370 $1.5M New
RBC RBC Bearings Inc. 0.02% 2,722 $1.5M Reduce -54.2%
FNV Franco-Nevada Corp. 0.02% 5,863 $1.4M Add +3.0%
TKOMY Tokio Marine Holdings-ADR 0.02% 30,534 $1.4M Add +5.7%
TTNDY Techtronic Industries-SP ADR 0.02% 21,543 $1.4M Add +10.4%
WPM Wheaton Precious Metals Corp. 0.02% 10,617 $1.4M Add +2.2%
CTRA Coterra Energy Inc. 0.02% 39,307 $1.4M Add +7.7%
NGLOY Anglo American PLC-Spons ADR 0.02% 63,316 $1.4M Add +2.2%
EQT Eqt Corp. 0.02% 21,354 $1.4M Add +6.2%
FCX Freeport-McMoran Inc. 0.02% 22,870 $1.3M Add +3.2%
FQVLF First Quantum Minerals Ltd. 0.02% 56,146 $1.3M Add +2.0%
LYSDY Lynas Rare Earths Ltd.-SP ADR 0.02% 99,106 $1.3M Add +127.4%
MFIC Midcap Financial Investment 0.02% 117,182 $1.3M Reduce -5.0%
ITOCY Itochu Corp.-Unsponsored ADR 0.02% 101,904 $1.3M Add +3.7%
CHGCY Chugai Pharmaceutic-Unsp ADR 0.02% 47,100 $1.3M Add +3.8%
BNPQY BNP Paribas-ADR 0.02% 27,150 $1.3M Add +10.6%
MDYG SS SPDR S&P 400 MC GR ETF 0.02% 13,458 $1.3M Reduce -89.7%
ASGTF Altus Group Ltd. 0.02% 36,516 $1.3M Reduce -22.1%
HAYW Hayward Holdings Inc. 0.02% 93,408 $1.2M Reduce -31.6%
REGL Prshrs S&P Mid 400 DVD Arist 0.02% 14,360 $1.2M Reduce -89.5%
SONY Sony Group Corp. - SP ADR 0.02% 58,946 $1.2M Add +18.0%
OCSL Oaktree Specialty Lending Co. 0.02% 106,851 $1.2M Reduce -8.1%
JBSS John B. Sanfilippo & Son Inc. filed as SANFILIPPO JOHN B & SON INC 0.02% 15,001 $1.2M Reduce -1.8%
UFPI Ufp Industries Inc. 0.02% 12,900 $1.2M Reduce -17.9%
HAE Haemonetics Corp. 0.02% 20,624 $1.2M Reduce -28.1%
EXE Expand Energy Corp. 0.02% 10,542 $1.2M Add +8.5%
ESAB Esab Corp. 0.02% 11,817 $1.1M Add +32.3%
DNN Denison Mines Corp. 0.02% 313,086 $1.1M Reduce -2.5%
SHOP Shopify Inc. Class A 0.02% 9,298 $1.1M Add +17.1%
RNMBY Rheinmetall AG-Unsp ADR 0.02% 3,199 $1.1M Add +11.0%
BCSF Bain Capital Specialty Finan 0.02% 86,684 $1.1M Reduce -5.9%
LRLCY L'oreal-Unsponsored ADR 0.02% 13,018 $1.1M Add +6.3%
VMC Vulcan Materials Co. 0.02% 3,913 $1.1M Add +7.9%
MRTN Marten Transport Ltd. 0.02% 80,613 $1.1M Reduce -6.8%
KMTUY Komatsu Ltd. -Spons ADR 0.02% 26,907 $1.1M Add +14.3%
NXE Nexgen Energy Ltd. 0.02% 90,230 $1.0M Add +0.1%
HLN Haleon PLC-ADR 0.02% 104,389 $1.0M Add +5.0%
UEC Uranium Energy Corp. 0.02% 76,801 $1.0M Reduce -1.8%
KBDC Kayne Anderson BDC Inc. 0.02% 74,967 $1.0M Add +61.5%
RHHBY Roche Holdings Ltd.-Spons ADR 0.02% 20,667 $1.0M Add +10.8%
NTDOY Nintendo Co. Ltd.-Unspons ADR 0.02% 70,478 $1.0M Add +3.9%
UFPT Ufp Technologies Inc. 0.02% 5,097 $987K Reduce -33.7%
CCJ Cameco Corp. 0.02% 9,022 $980K Add +1.3%
PPLT Abrdn Physical Platinum SHRS 0.02% 5,440 $970K Reduce -57.3%
BABA Alibaba Group Holding-SP ADR 0.01% 7,690 $965K Reduce -0.7%
MSDL Morgan Stanley Direct Lendin 0.01% 67,321 $940K Reduce -6.7%
SAP Sap SE-Sponsored ADR 0.01% 5,423 $928K Add +2.7%
WMMVY Walmart DE Mexico-Spon ADR V 0.01% 28,473 $926K Add +11.4%
LNRCF Lunr Royalties Corp. 0.01% 41,801 $920K New
SLRC SLR Investment Corp. 0.01% 63,966 $915K Reduce -7.8%
ENOV Enovis Corp. 0.01% 39,936 $909K Reduce -2.9%
JJSF J & J Snack Foods Corp. 0.01% 11,389 $903K Reduce -0.5%
LUGDF Lundin Gold Inc. 0.01% 11,588 $883K Add +3.5%
UL Unilever PLC-Sponsored ADR 0.01% 15,411 $878K Add +7.8%
NCDL Nuveen Churchill Direct Lend 0.01% 68,743 $874K Reduce -5.7%
WGO Winnebago Industries 0.01% 26,585 $824K Reduce -14.3%
IBMP iShares Ibonds Dec 2027 Term 0.01% 32,206 $819K Add +1.4%
FSP Franklin Street Properties C 0.01% 1,231,656 $818K No change
CW Curtiss-Wright Corp. 0.01% 1,160 $790K No change
LVMUY LVMH Moet Hennessy-Unsp ADR 0.01% 7,142 $780K Add +16.7%
AXP American Express Co. 0.01% 2,400 $726K No change
SE Sea Ltd.-ADR 0.01% 8,232 $682K Add +15.6%
MDYV SS SPDR S&P 400 MC Val ETF 0.01% 7,972 $679K Reduce -89.8%
GFI Gold Fields Ltd.-Spons ADR 0.01% 14,856 $674K Reduce -3.3%
MSIF MSC Income Fund Inc. 0.01% 54,855 $668K Add +118.0%
FELE Franklin Electric Co. Inc. 0.01% 7,033 $648K New
TRIN Trinity Capital Inc. 0.01% 41,824 $615K Reduce -6.6%
NVO Novo-Nordisk A/S-Spons ADR 0.01% 15,686 $576K Add +20.3%
ASX Ase Technology Holding -ADR 0.01% 21,543 $467K Add +1.6%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.01% 4,654 $464K Add +1.9%
CCAP Crescent Capital BDC Inc. 0.01% 32,223 $392K Reduce -54.4%
SHG Shinhan Financial Group-ADR 0.01% 5,799 $356K Add +2.3%
KOF Coca-Cola Femsa Sab-SP ADR 0.01% 3,488 $340K Add +2.7%
IBMO iShares Ibonds Dec 2026 Term 0.01% 13,150 $337K Add +2.1%
ZTO Zto Express Cayman Inc.-ADR 0.00% 12,540 $316K Add +3.2%
GLD SPDR Gold Shares 0.00% 718 $309K Reduce -7.5%
HTHT H World Group Ltd.-ADR 0.00% 6,122 $308K Add +3.0%
FMX Fomento Economico Mex-SP ADR 0.00% 2,727 $303K Add +3.5%
BAP Credicorp Ltd. 0.00% 885 $300K Add +2.7%
JBS JBS NV-A 0.00% 16,481 $296K Add +3.5%
EADSY Airbus SE - Unsp ADR 0.00% 6,202 $293K Add +14.3%
IBN Icici Bank Ltd.-Spon ADR 0.00% 10,957 $284K Add +3.4%
YUMC Yum China Holdings Inc. 0.00% 5,626 $274K Add +3.4%
GBOOY Grupo Fin Banorte-Spon ADR 0.00% 4,938 $274K Add +3.6%
TCEHY Tencent Holdings Ltd.-Uns ADR 0.00% 4,267 $270K Add +2.9%
NBIS Nebius Group NV 0.00% 2,427 $252K Add +1.4%
IFNNY Infineon Technologies-ADR 0.00% 5,221 $236K Add +13.0%
MELI MercadoLibre Inc. 0.00% 130 $225K Add +4.8%
CPA Copa Holdings SA Class A 0.00% 1,960 $223K Add +4.3%
RDY Dr. Reddy's Laboratories-ADR 0.00% 15,496 $215K Add +5.0%
AMP Ameriprise Financial Inc. 0.00% 480 $213K No change
COST Costco Wholesale Corp. 0.00% 210 $209K New
BIDU Baidu Inc. - Spon ADR 0.00% 1,817 $202K Add +4.4%
PSBD Palmer Square Capital BDC Inc. 0.00% 20,681 $202K Reduce -11.6%
JPM JPMorgan Chase & Co. 0.00% 685 $202K No change
EC Ecopetrol SA-Sponsored ADR 0.00% 13,438 $201K Add +24.1%
INFY Infosys Ltd.-SP ADR 0.00% 14,810 $200K Add +4.8%
VALE Vale SA-SP ADR 0.00% 11,998 $191K New
VLRS Controladora Vuela Cia-ADR 0.00% 26,149 $189K Add +10.6%
BWMX Betterware DE Mexico Sapi DE 0.00% 10,328 $174K New
PTAIY Astra International-Unsp ADR filed as PT Astra International Tbk 0.00% 20,177 $154K Add +7.8%
ARCO Arcos Dorados Holdings Inc. Class A 0.00% 18,015 $149K Add +69.7%
ASAIY Sendas Distribuidora SA 0.00% 13,574 $123K New
RWAY Runway Growth Finance Corp. 0.00% 14,216 $98K Reduce -13.4%
ELME Elme Communities 0.00% 22,103 $44K New

Portfolio Sells Q4 2025 → Q1 2026

IWD iShares Russell 1000 Value E Reduce -96.8% 0.06% −1.73
NTRS Northern Trust Corp. Reduce -38.3% 1.47% −0.78
BR Broadridge Financial Solutio Reduce -4.0% 1.35% −0.51
SGOV iShares 0-3 Month Treasury B Reduce -16.1% 2.74% −0.40
MKC McCormick & Co.-Non VTG SHRS Sold out 0.00% −0.29
PAYX Paychex Inc. Reduce -1.8% 1.39% −0.27
MSFT Microsoft Corp. Reduce -4.0% 0.85% −0.27
FNF Fidelity National Financial Reduce -4.1% 1.41% −0.26
PGR Progressive Corp. Reduce -2.9% 1.79% −0.25
KEYS Keysight Technologies Inc. Reduce -46.3% 0.79% −0.23
TJX TJX Companies Inc. Reduce -22.7% 1.11% −0.22
SPGI S&P Global Inc. Reduce -4.2% 0.89% −0.21
MA Mastercard Inc. Class A Reduce -5.7% 1.14% −0.19
DLTR Dollar Tree Inc. Reduce -38.1% 0.25% −0.19
MDYG SS SPDR S&P 400 MC GR ETF Reduce -89.7% 0.02% −0.16
REGL Prshrs S&P Mid 400 DVD Arist Reduce -89.5% 0.02% −0.15
IBTH iShares Ibonds Dec 2027 Term Sold out 0.00% −0.15
IBDS Ishrs Ibnds Dec 27 Corp. ETF Sold out 0.00% −0.14
TMO Thermo Fisher Scientific Inc. Reduce -5.2% 0.69% −0.14
IBDX iShares Ibonds Dec 2032 TC Sold out 0.00% −0.11
ARCC Ares Capital Corp. Reduce -3.0% 0.96% −0.11
BKNG Booking Holdings Inc. Reduce -3.6% 0.40% −0.11
WRB WR Berkley Corp. Reduce -5.8% 1.15% −0.10
SYK Stryker Corp. Reduce -5.1% 1.06% −0.09
SPMB SS SPDR P Mort Back Bond ETF Reduce -9.5% 1.34% −0.09
GOOG Alphabet Inc. Class C Reduce -5.3% 0.77% −0.09
IBDR iShares Ibonds Dec 2026 Term Sold out 0.00% −0.09
MDYV SS SPDR S&P 400 MC Val ETF Reduce -89.8% 0.01% −0.09
BSMR Invesco Bulletshares 2027 MB Sold out 0.00% −0.09
BRO Brown & Brown Inc. Reduce -2.1% 0.41% −0.08
UNF Unifirst Corp. Sold out 0.00% −0.08
HD Home Depot Inc. Reduce -3.6% 1.63% −0.08
NXPI NXP Semiconductors NV Reduce -3.7% 0.67% −0.07
BSMQ Invesco Bulletshares 2026 MB Sold out 0.00% −0.06
IWN iShares Russell 2000 Value E Sold out 0.00% −0.06
FG F&G Annuities & Life Inc. Sold out 0.00% −0.06
JBTM JBT Marel Corp. Reduce -24.1% 0.11% −0.05
HYBB iShares BB Rated Corp. Bond Reduce -19.2% 0.25% −0.05
TLH iShares 10-20 Year Treasury Reduce -15.1% 0.32% −0.05
CRL Charles River Laboratories Reduce -4.8% 0.27% −0.05
MAS Masco Corp. Reduce -4.0% 0.78% −0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.5% 0.69% −0.04
SPY SS SPDR S&P 500 ETF Trust-US Reduce -24.2% 0.12% −0.04
APH Amphenol Corp. Class A Reduce -6.9% 0.36% −0.04
LOW Lowe's Cos Inc. Reduce -6.1% 0.77% −0.04
DCI Donaldson Co. Inc. Reduce -8.8% 0.35% −0.04
MLM Martin Marietta Materials Reduce -4.7% 0.52% −0.04
RMD Resmed Inc. Reduce -6.2% 0.35% −0.04
TRIP Tripadvisor Inc. Reduce -13.5% 0.07% −0.04
USB US Bancorp Reduce -3.4% 1.44% −0.04

Portfolio Buys Q4 2025 → Q1 2026

DOW Dow Inc. Add +17.7% 1.21% +0.65
MDLZ Mondelez International Inc. Class A Add +21.3% 1.89% +0.49
CLX Clorox Company Add +20.1% 1.50% +0.33
RLI Rli Corp. Add +1612.2% 0.34% +0.32
CARR Carrier Global Corp. Add +142.6% 0.45% +0.28
APD Air Products & Chemicals Inc. Add +14.3% 0.98% +0.28
IBTL iShares Ibonds Dec 2031 Term Add +156.1% 0.38% +0.24
MORN Morningstar Inc. Add +150.0% 0.47% +0.23
TREX Trex Company Inc. New 0.22% +0.22
SPYV SS SPDR P S&P 500 Value ETF Add +30.9% 0.69% +0.18
IBTO iShares Ibonds Dec 2033 Tres Add +69.8% 0.41% +0.18
STZ Constellation Brands Inc. Class A Add +57.9% 0.40% +0.17
AWK American Water Works Co. Inc. Add +2.1% 1.71% +0.16
IBTM iShares Ibnds Dec 2032 TT Add +102.5% 0.29% +0.15
DEO Diageo PLC-Sponsored ADR Add +23.2% 1.56% +0.14
PICK iShares MSCI Global Metals & New 0.13% +0.13
EOG EOG Resources Inc. Add +1.2% 0.37% +0.11
GDX Vaneck Gold Miners ETF New 0.09% +0.09
IBTP iShares Ibonds Dec 2034 ETF Add +28.4% 0.37% +0.09
BSMZ Inves Bltshrs 2035 MB ETF New 0.09% +0.09
IGSB iShares 1-5Y Inv Grade Corp. Add +81.9% 0.18% +0.09
TTC Toro Co. Add +4.0% 0.36% +0.08
BSMV Invesco Bulletshares 2031 MB Add +101.6% 0.10% +0.05
VVV Valvoline Inc. Add +6.8% 0.23% +0.05
BF.B Brown-Forman Corp. Class B Add +3.6% 0.51% +0.04
BSMW Invesco Bulletshares 2032 MB Add +95.1% 0.08% +0.04
BSMT Invesco Bulletshares 2029 MB New 0.04% +0.04
WDS Woodside Energy Group-ADR New 0.03% +0.03
AOS Smith (a.o.) Corp. Add +8.4% 0.33% +0.03
XLC SS Comm Select Sector SPDR New 0.03% +0.03
CVE Cenovus Energy Inc. New 0.03% +0.03
ACGL Arch Capital Group Ltd. Add +1.2% 0.54% +0.03
ZTS Zoetis Inc. Add +13.9% 0.26% +0.03
VIST Vista Energy Sab DE CV Add +224.3% 0.03% +0.03
SHEL Shell PLC-ADR New 0.02% +0.02
GDXJ Vaneck Junior Gold Miners New 0.02% +0.02
CNQ Canadian Natural Resources New 0.02% +0.02
AEM Agnico Eagle Mines Ltd. Add +3.1% 0.07% +0.02
LYSDY Lynas Rare Earths Ltd.-SP ADR Add +127.4% 0.02% +0.02
LNRCF Lunr Royalties Corp. New 0.01% +0.01
IIIV I3 Verticals Inc. Class A Add +46.5% 0.04% +0.01
BDX Becton Dickinson and Co. Add +24.8% 0.23% +0.01
FELE Franklin Electric Co. Inc. New 0.01% +0.01
BWIN Baldwin Insurance Group Inc./ Add +10.2% 0.22% +0.01
DSCSY Disco Corp.-Unsponsored ADR Add +6.0% 0.03% +0.01
XOM Exxon Mobil Corp. Add +5.0% 0.02% +0.01
GLNCY Glencore PLC -Unsp ADR Add +1.1% 0.03% +0.01
CNR Core Natural Resources Inc. Add +5.7% 0.04% +0.01
ASML ASML Holding NV-NY Reg SHS Add +7.7% 0.03% +0.01
MITSY Mitsui & Co. Ltd.-Spons ADR Add +0.3% 0.03% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 290$6.4BSGOV, SNA, CB, LIN, WEC
Q1 2026 283$6.4BSGOV, ADI, LMT, CVX, SNA
Q4 2025 296$6.7BSGOV, SNA, CB, ADI, NTRS
Q3 2025 294$7.0BSGOV, SNA, WEC, FAST, NTRS
Q2 2025 287$7.1BSGOV, CB, SNA, PAYX, NTRS
Q1 2025 294$6.9BSGOV, SNA, CB, PAYX, PGR
Q4 2024 299$7.2BPGR, SNA, CB, PAYX, LMT
Q3 2024 298$7.5BPGR, LMT, DEO, CB, LIN
Q2 2024 299$6.9BPGR, CB, ADI, PEP, LIN
Q1 2024 296$7.4BFAST, PGR, MSFT, SNA, LIN